Boise is located in Ada County Idaho and includes other cities such as Eagle, Meridian, Star and Kuna. The average home price in July 2006 in Ada County was $279,391. The average home price in July 2007 has increased only 0.5% to $280,819.
Even though the average home price has only increased 0.5%, the number of days a home is on the market before it has an accepted offer has increased by 200% over the last year. The average number of days to sell your home in Ada County, including Boise Idaho is 51 days.
Statistics that reflect the days on market of homes have started to improve as well. DOM stats have indicated that homes that were pre-existing are still remaining on market in spite of the increase in new home starts. That is really an impressive relationship given that just a year ago the market was all but dead.
The number of days on market is a great statistic for analysis due to it’s reflecting the pace of the market. When homes are on the market a shorter period of time, it indicates that Kuna homes are lively, but there is also a negative aspect to that as well. If homes sell too quickly and DOM stats drop then you get a “gold rush” mentality that damages markets.
Treasure Valley market inventory rates and numbers are still high but that is to be expected with the number of homes going back to banks as REO’s. As the market absorbs these homes numbers will improve as they have already started to do. As usual, starter homes are flying off the shelves in most of the valley and there seems to be a trend away from the giant, energy inefficient homes of prior years.
Many new home buyers are taking advantage of the buyers market by utilizing the first time home buyers market recently authorized by the federal government.
Many home owners in the Boise and surrounding area do not have 81 days to sell their house. After all, life changes every day. Divorce, foreclosure, bankruptcy, work changes, health issues, family changes, these are all life changes that can happen to anyone.
The first step in getting out from under a home in Kuna is to contact a local real estate professional to find out what the market is doing. They can help you market, sell and find a new place to live without making it as big a hassle as without a Realtor. In fact, most of them will even assist you in finding a rental you can move into as well.
The author enjoys writing articles explaining Kuna MLS search and search for homes in Kuna Idaho